18 May 2017

New facilitated adviser charging for workplace pensions

This is not a consumer advertisement. It is intended for professional financial advisers and should not be relied upon by private customers or any other persons.

We’re pleased to announce the introduction of facilitated adviser charging for workplace pension scheme members.

The introduction of this service directly supports the Financial Advice Market Review’s call for “advice for all.” It comes hot on the heels of Unbiased research suggesting 34% of people who arrange a financial product themselves without professional advice later regret their decision.

The facility enables members to meet the cost of professional advice from their pension pot so long as such advice relates directly to their workplace pension or its benefits, for instance:

The facility enables members to meet the cost of professional advice from their pension pot so long as such advice relates directly to their workplace pension or its benefits, for instance:

  • transfers in
  • single lump sum contributions
  • investment advice
  • tax planning
  • retirement options

Payments will be made from the sale of units and advisers are responsible for explaining their charges to the individual member and obtaining signed consent to proceed.

The facility applies to the WorkSave Pension Plan only. It is not currently available on the WorkSave Mastertrust Pension Plan and other products.

You can download a copy of the guide, application form and suggested internal announcement for members below:

PDF file: View - Facilitated adviser charge guide PDF size: 41KB    

PDF file: View - Facilitated adviser charge application form PDF size: 56KB     

PDF file: View - Facilitated adviser charge suggested wording PDF size: 72KB   

For more information, contact your usual Legal & General representative.